There is no specific regulatory requirement to produce a suitability report for mortgages.
To our mind, this is crazy thinking and it is our strong recommendation that firms should issue reports for all mortgage related business, be it regulated or not, because this provides good protection against potential complaints.
Think about it another way – will your business be more, or less valuable, if every case is supported by a good quality suitability report?
Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.
ATEB Compliance offers compliance and regulatory advice.
ATEB Suitability provides report writing software for the financial services market.
We have some exciting news on the latest upgrade to ATEB Suitability on the 4th of December 2024. This update comes at no additional cost and provides a new addition to our content integration library. We have partnered with EPIC Investment Partners to provide our customer firms with access to the following: A description […]
![iStock-2156168033 [Converted]](https://news.ateb-group.co.uk/wp-content/uploads/2024/11/iStock-2156168033-Converted-1920x960-250x230.jpg "iStock-2156168033 [Converted]")
We have some exciting news on the latest upgrade to ATEB Suitability on 20th November 2024. This update comes at no additional cost and provides a new addition to our content integration library. We have partnered with Parmenion to provide our customer firms with access to the following: A description of their service A […]
In anticipation of the upcoming increases to the Business Asset Disposal Relief (BADR) rates in April 2025 and 2026, as well as the introduction of Inheritance Tax (IHT) on pensions starting in April 2027, we have implemented the following template updates: A new note has been added to the ‘Current IHT Position’ calculation table, informing […]
Following the Chancellor’s budget announcement on 30th October 2024, we have updated ATEB Suitability to reflect the changes in Stamp Duty Land Tax (SDLT) and Capital Gains Tax (CGT) rates. The revised SDLT rates are available in the optional Glossary of Terms when making Mortgage Recommendations. For CGT, the updated rates can be found in […]
Template Enhancements: Inheritance Tax (IHT) & Pensions
Doug McFarlane Suitability 2024, Budget, content management, IHT, Inheritance Tax, Pension, Pensions, PI, protection, Suitability Review, Template Enhancement, Update
To prepare for the introduction of Inheritance Tax (IHT) on pensions starting in April 2027, we have implemented the following template update: A new wizard question has been added to the ‘Current IHT Position’ table. This allows users to include pension assets in the estate value when calculating a client’s potential IHT liability. Please […]